The operator closed June with a total of 11.3 million mobile contract lines, 158,000 fewer customers in these three months
Vodafone Spain registered a 9.3% drop in service revenues in the first quarter of its fiscal year (from April 1 to June 30), to 988 million euros, as reported by the operator of telecommunications
On the other hand, Vodafone’s total revenues between April and June totaled 1,082 million euros, a 10.3% year-on-year decrease.
The company has explained that these figures reflect the impact of the commercial repositioning of the business carried out in the last year and the competitive framework, dominated by aggressive promotions, the strategic decision to leave football due to its lack of profitability and the push of low proposals cost.
Vodafone Spain closed June with a total of 11.3 million mobile contract lines (-158,000 customers in these three months), in a period marked by high commercial aggressiveness, the process of sanitation and disconnection of low-value lines in the portfolio and the impact of large corporate operations.
As for the rest of the world, the turnover for the period was 2,547 million euros, a decrease of 4%, added the firm, which stressed that market conditions have improved in Italy and retail growth in Germany is strong and compensates for the impact of competition promotions in Spain.
Vodafone CEO Nick Read said that billing growth has improved, especially in Italy, and that he expects a gradual recovery in revenue.
Upon completion of Liberty Global acquisitions, Vodafone will become the leading convergent operator, with a growth in fixed and convergent services, he added.
Vodafone said it expects the sale of additional products, particularly fixed ones, which will help its billing grow.
The company has launched 5G in five European markets, services available in Spain, Italy, and Romania since June, and in the United Kingdom and Germany since July.